Real Estate Prices Increase and real estate investment in Egypt 2022
Real Estate Prices Increase and real estate investment in Egypt 2022 is one of the topics that occupied the attention of thousands of investors and individuals looking to invest in the Administrative Capital and New Cairo and real estate investment in Egypt in general. Due to many reasons that occurred in the Egyptian real estate market, most notably the rise in the price of the dollar American.
The recent days witnessed many economic changes that affected the global economy and thus affected the rise in the prices of many products and industries and the increase in the prices of building materials, which ultimately affected the prices of real estate in all countries of the world, including Egypt.
In this article, we will learn about the reasons for the increase in real estate prices, the importance of real estate investment in Egypt in 2022., and its feasibility for both individuals and investors.
Real estate prices increase in Egypt in 2022
Global economic experts expected that the real estate market will witness significant and noticeable changes in the coming days according to what was published by the British newspaper The Independent.
Investment and real estate development experts in Egypt expect real estate prices to rise in Egypt by a rate ranging between 15% to 30% due to the many changes that the global economy has witnessed recently, which we monitor through the following points-:
• The rise in the price of the dollar in 2022
• Russian-Ukrainian war
• Increasing the prices of building materials
• The increase in the price of iron in 2022
The increase in the price of the dollar in 2022
The head of the Administrative Capital and New Cairo Developers Association and Vice-President of the Real Estate Investment Division in Egypt\ Mohamed Al-Bustani confirmed that the Central Bank's decision to raise interest rates by 1% on the US dollar came in light of the economic conditions and the global economy witnessing a wave of inflation and great turmoil.
Al-Bustani explained that this decision will ultimately affect the movement of the Egyptian market, including the real estate sector, which has witnessed great popularity in recent times. And this matter will make many individuals and investors think carefully before taking the step of real estate investment or depositing money in banks.
Many investment and real estate development experts and real estate developers in Egypt have made it clear that real estate prices increase in Egypt will certainly witness a noticeable rise, ranging between 15% to 30%, and at the very least, this increase will not be less than 10%.
Experts have indicated the possibility that the Egyptian real estate market will witness a major stagnation in buying and selling operations during the coming period due to the rise in the price of the dollar in 2022 against the Egyptian pound.
Russian-Ukrainian war and price increase
The Russian-Ukrainian war affected the world economy and the prices of many products and industries in all countries, including Egypt.
The Egyptian real estate market was affected by this war, as the prices of building materials and iron witnessed a noticeable rise, which is sure to affect the increase in real estate prices and real estate investment in Egypt in 2022.
This made many individuals and investors confused about investing their money by buying new real estate, investing it in other non-real estate projects, or depositing it in banks.
In addition to the real estate market, the prices of many food and non-food products have been affected during the past two months. As a result of the outbreak of the Russian-Ukrainian war and global economic inflation.
Building materials prices increase
The rise in the price of iron in 2022 and the prices of building materials is one of the most influential factors in the increase in real estate prices in Egypt in the coming period.
As the prices of building materials and iron continued to rise in the Egyptian market recently and set very high records, the price of a ton of iron reached 17,000 Egyptian pounds, and cement prices rose by a value ranging between 200 to 250 Egyptian pounds, bringing the price of a ton to 1400 Egyptian pounds.
Therefore, real estate investment and development experts expect that the Egyptian real estate market will witness drastic changes in real estate prices, with an increase of up to 30% as a result of the noticeable rise in the prices of iron and building materials.
Real Estate Prices Increase and real estate investment in Egypt 2022
Investment and real estate development experts and real estate developers think that real estate investment is the best option and solution for all individuals and investors who want to benefit and develop their money instead of losing its actual value in light of the high price of the US dollar, the Russian-Ukrainian war and the high prices of building materials and iron in the Egyptian markets.
Engineer Mohamed Al-Bustani, head of the Administrative Capital and New Cairo Developers Association and Vice President of the Real Estate Investment Division in Egypt, confirmed that the current time is the best time to buy real estate due to the confirmed possibility of an increase in prices by 15% to 30% as a result of the rise in the price of the dollar, the outbreak of the Russian-Ukrainian wars, and the high prices of iron and materials Construction because the real estate sector is the safest sector for investment and preservation of funds because there is a real and renewed demand for real estate in Egypt.
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